Advantage Trust Co Takes Position in AGCO Co. (NYSE:AGCO)

Advantage Trust Co bought a new position in shares of AGCO Co. (NYSE:AGCO) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 500 shares of the industrial products company’s stock, valued at approximately $61,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in shares of AGCO by 7,297.1% during the 4th quarter. Pacer Advisors Inc. now owns 722,915 shares of the industrial products company’s stock valued at $87,769,000 after buying an additional 713,142 shares during the period. Victory Capital Management Inc. lifted its position in shares of AGCO by 24.7% during the third quarter. Victory Capital Management Inc. now owns 3,042,378 shares of the industrial products company’s stock worth $359,852,000 after purchasing an additional 601,877 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in shares of AGCO in the third quarter valued at $38,690,000. AQR Capital Management LLC grew its holdings in AGCO by 16.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,028,727 shares of the industrial products company’s stock valued at $121,678,000 after purchasing an additional 142,701 shares in the last quarter. Finally, Invesco Ltd. increased its stake in AGCO by 53.1% during the 3rd quarter. Invesco Ltd. now owns 374,810 shares of the industrial products company’s stock worth $44,333,000 after buying an additional 130,051 shares during the period. Institutional investors and hedge funds own 78.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Oppenheimer dropped their price objective on AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. StockNews.com cut AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.83.

AGCO Stock Performance

AGCO stock traded up $2.38 during mid-day trading on Thursday, reaching $116.31. The company’s stock had a trading volume of 474,471 shares, compared to its average volume of 719,630. The company has a current ratio of 1.99, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. AGCO Co. has a twelve month low of $105.77 and a twelve month high of $140.46. The business has a 50 day moving average price of $117.18 and a 200-day moving average price of $116.89. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 0.70 and a beta of 1.32.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the firm earned $3.51 EPS. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. Sell-side analysts predict that AGCO Co. will post 12 EPS for the current fiscal year.

AGCO Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is 7.85%.

AGCO Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.